Since the start of 2013, VLCC spot rates have been under pressure as a result of the usual suspects of excess tonnage availability and relatively weak demand. The latter has been further exacerbated by seasonal refinery maintenance, particularly in the US. According to data from JBC Download File[PDF]

Chartering activity to service product exports from the US Gulf Coast posted strong gains this week as regional refineries prepare for a progression from their strongest seasonal maintenance period in two years.Download File[PDF]

The shipping industry has been working the conference circuit in the New York metropolitan area this week, and some of the heavier hitters have not hesitated to offer strong opinions about the direction in which tanker ordering should be headed. They Download File[PDF]

Bunker prices have fluctuated more than two fold in the last five years. The average price of 380cst this year to date hovers around $635 pmt. The impact of bunker fuels on operational costs is substantial and has caused considerable damage to ship owner's profitability. However Download File[PDF]

The Renewable Identification Number (RIN) market administered by the US Environmental Protection Agency (EPA) has largely been a boondoggle from its inception. A RIN is a number assigned to individual batches of biofuel that are then used Download File[PDF]

Despite recurring levels of excess capacity in tanker spot markets and correspondingly recessed earnings, owners have been slow to send aging units to demolotion yards. This development marks a departure from Download File[PDF]

It’s a year since we last wrote about the ever changing flow of the US product market – that of its shift from importer to exporter. In 2010 the US swung from being a net importer of gasoline and distilate products to a net exporter. Since then the patern Download File[PDF]

Last year marked a major breakthrough for Iraq in terms of crude oil production with the nation breaking through the 3 million b/d for the first time since 1990. Iraq has managed to haul itself into the position of the world’s
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Hugo Chavez’s death earlier this week was notable from several perspectives, not the least of which is from that of global crude oil production. His time in office, beginning in 1999, saw the implementation of a series of provocative policies.Download File[PDF]

Slow steaming became a normal feature in the VLCC sector following the onset of recessed earnings four years ago. Initially limited to slower ballast speeds,slower ballast speeds quickly followed and have gradually Download File[PDF]